USDA chief economist says 15 percent of US ethanol capacity may be idle, as Energy Informaion Administration cuts outlook for oil demand

In Washington, USDA chief economist Joseph Glauber told the USDA Agricultural Outlook Forum that 15 percent of ethanol production capacity is believed to be idle, due to falling gasoline prices. Meanwhile, the US Energy Information Administration reduced its world oil demand forecast for 2009 by 146 million barrels, with an overall decline in oil use of 1 percent compared to 2007.

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